Fethiye, located on the southwestern coastline of Turkey, has become one of the most sought-after places to live, work and take holidays. Fethiye locals and foreign buyers who want to buy property, thanks to beautiful beaches, historical places, and a more than population-friendly climate, can push the real estate market to a higher level. But what is the reason for the price of the houses in Fethiye being so high? The answer is simple and consists of a few determinants that influence the caliber of the site such as its location, the availability of services and amenities, the level of construction and development, and the appreciation of the market.
This is the first blog post in a series that will analyze the housing market in Fethiye and describe the factors that characterize this pretty town as an attractive place for real estate investments.
1. Scenic Beauty and Mediterranean Lifestyle
The other factor that makes houses in Fethiye very expensive is the natural surroundings of the area. Fethiye, which is located in the part of Turkey known as the “Turquoise Coast” is famous for its picturesque beaches, the Mediterranean Sea, mountains, and forests. The town everybody knows for Ölüdeniz beach, which is known as one of the most beautiful beaches in the world, and also for the sandy stretch of Butterfly Valley and the hiking trail called Lycian Way.
Those in search of a tranquil lifestyle attuned to nature will find Fethiye to be an ideal destination. It enhances the attraction of the region for those interested in purchasing properties in it, particularly those who wish to be away from the busy city life. Properties with sea views, those that are located near the beaches, and properties located in the mountains but not deep inside them go on sale at a high price since most buyers are willing to take the best offers for such locations.
2. Fethiye Appeal Among Foreign Buyers
It is hard to resist the allure of lavish Fethiye where foreign home buyers especially from the UK, Europe, and the Middle East come in numbers. The place is full of great modern amenities and fulfills the desire of individuals who want to enjoy the old world environment with all the comforts, thus it is attractive for migrant people who want a holiday home or residence in Turkey.
The rising supply of housing after Fethiye was opened to foreign investors has also led to a rise in the properties’ pricing. Moreover, Fethiye has become a good choice for investors due to the many real estate amenities available for foreign nationals. This demand on the international market particularly focuses on luxurious properties such as villas overlooking the ocean, beach apartments, and other costly brands, consequently increasing the prices of real estates
3. Advanced and Luxurious Real Estates
The real estate scenario of Fethiye has changed and is changing quantitatively and qualitatively bearing in mind the emphasis on luxury and modern designs. In the last 10 years, developers have constructed a multitude of properties targeting the top-of-the-range market. Such developments can be found in an entirely new country – villas fitted with individual pools and modern flats facing more than one could imagine these developments cost.
A great number of these new builds in Fethiye also come up to international standards and include finishing works, installation of smart house systems, and several other green solutions, etc. Hence, the buyers seeking for high levels of comfort and modernity in living spaces are inclined to pay more for such properties that guarantee quality and convenience.
4. Availability of Land for Development
Another contributing factor to the increase in property prices in Fethiye is the availability of land suitable for development. Most of the land in the area is either protected for its environmental values or is not development-ready because of the hilly landscape. This limited supply of land creates healthy competition among the buyers and the developers which in turn increases the prices of land and buildings.
In addition, the stringent planning regulations in Fethiye also contribute to the little land left for housing development. Some areas have been set aside and termed as conservation areas, which makes it harder to find any land for building within the region. When there is a growing demand for houses but a limited supply of land, it is basic economic understanding that the prices will go up.
5. Good Returns In Property Investment
Fethiye is not only a residential area. It is already an attractive destination for vacations. In recent years, the tourism sector in the country has rapidly developed, and tourists come to the area from almost all the countries. This has led to increased rates for the properties on short let, especially in the peak of the tourist season.
Conclusion
Fethiye's beautiful scenery, location appealing to foreign investors, top-notch real estate operations, scarce land, buoyant rental demand, and ever-expanding facilities have all played a part. This has led to an increase in the cost of property in the region. Those who are looking to make investments in Fethiye will be happy to know that the town promises a lot in terms of opulent living and lucrative investments.
Nonetheless, in light of the high consumer interest and the challenge of sourcing land, house prices in Fethiye are forecasted to increase further. Be it a vacation home, a home to live in, or even a rental investment, the fusion of beauty, comfort, and the reasonable pricing of Fethiye, is very commendable.
